Hackers steal $400 million from cryptocurrency exchange

One of Japan’s largest cryptocurrency exchanges has revealed that it’s lost nearly $400 million in a security breach.

Coincheck says that it has restricted deposits and withdrawals for a cryptocurrency called NEM, and Bloomberg reports that 500 million NEM tokens have been sent from the company “illicitly,” and that it’s not sure how.

The company has since suspended most trading and withdrawals, and is working to trace where the missing digital currency ended up. In a Tweet, the exchange said that it was considering compensating those who lost money.

NEM is a digital currently like Bitcoin, Ethereum, or Litecoin, and is presently the eight largest cryptocurrency by volume.